PolyOne Acquires Spanish Colorants Producer
PolyOne Corporation announced that it has completed the funding of its December 19, 2002 acquisition of Transformacion de Pigmentos y Colorantes, S.A. (TRANSCOLOR), a large color concentrates producer operating near Pamplona in northern Spain.
TRANSCOLOR, with annual revenues of approximately $36 million (USD), is an ISO 9000-accredited, market-leading producer of color concentrates, with special emphasis on black and white products.
"TRANSCOLOR enhances PolyOne's product portfolio and provides a stronger platform for the delivery of our color and additive concentrates to customers in Spain and Portugal," said Bernard Baert, vice president of international operations for PolyOne. "In TRANSCOLOR, we have acquired an excellent company with a fine reputation among its customers, and we feel very positive about working with its skilled management and sales team."
The existing TRANSCOLOR management team, which will remain in place, has been integrated into PolyOne's European Color & Additives division.
PolyOne has already moved some production from its Saint-Ouen L'Aumone site near Paris to TRANSCOLOR, freeing capacity and allowing the French plant to focus on the production of color and additive systems for local customers.
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